Is it safe to store coins in the telegram wallet?

[TomPluz]

Its not a safe practice for us to store our coins on telegram, if we can recall well on how many have been scammed on this same telegram and how this same platform has been a center of concentration for the use of related fraud, it wont be advisable if we cherish on what we have to remain on the telegram wallet, the slogan not your keys not your coins really works perfectly in situations like this.

Storing big amount of crypto in Telegram wallet is not always the right thing to do and I can feel that the more people are doing it the more hackers are feeling more energized and incentivized to be successful. We should always be reminded with this crypto law: not your keys, not your coins. We must not allow to lose control of our digital assets most especially with the use of wallets which can really be so basic. We should only store small amounts of coins with Telegram wallets most especially if we are using them while doing business with Telegram-based programs. All crypto users most especially newbies must be reminded with this fact.

[MrSpasybo]

Yeah I mean I also talked about the default wallet feature in the telegram menu. When you try to start the wallet there for the first time, you will see a warning like this.


If someone claims that it is a telegram fault, they'll definitely not be held responsible. The user has agreed to the Terms of Use

Thank you for your info. I didn't pay attention to this announcement when I started using Telegram Wallet, and I thought it was a product created by Telegram itself to support the Ton blockchain. This is surprising because this application can be allowed to access hundreds of millions of Telegram users. Can we suspect that this crypto wallet was created by the Telegram team itself but they hid the information to avoid future troubles?

In any case, Telegram Wallet is still just a hot wallet and cautious investors may avoid using it to store too many assets. Hardware wallets will always be the better choice!

[Makus]

Its not a safe practice for us to store our coins on telegram, if we can recall well on how many have been scammed on this same telegram and how this same platform has been a center of concentration for the use of related fraud, it wont be advisable if we cherish on what we have to remain on the telegram wallet, the slogan not your keys not your coins really works perfectly in situations like this.

Storing big amount of crypto in Telegram wallet is not always the right thing to do and I can feel that the more people are doing it the more hackers are feeling more energized and incentivized to be successful. We should always be reminded with this crypto law: not your keys, not your coins. We must not allow to lose control of our digital assets most especially with the use of wallets which can really be so basic. We should only store small amounts of coins with Telegram wallets most especially if we are using them while doing business with Telegram-based programs. All crypto users most especially newbies must be reminded with this fact.

In my own opinion, if am being honest,  I wouldn't recommend anyone to using telegram wallet because, the pre-designated purpose of the platform was a social media and not a wallet.  We all know how sensitive and decentralized our crypto life can be individually and for security purposes I recommend using a non-custodain wallet and having full control over my seed phrase with peace of mind attached. Telegram accounts could be hacked  or banned/blocked if any scam or hacking activity is suspected, and imagine having your coins inside when your account get blocked or ban. There are more disadvantages to be considered than the advantages meaning, it's not worth risking your coins on.

[Rruchi man]

IMO it's not very safe to combine messaging and wallet on same application.

The idea of having messaging and wallet on the same app It's so that people can easily send money to their close contacts without having to go through an exchange or an external wallet. It remains not completely safe to choose a messaging app as a place to store your investment.
Telegram will not be the first to have that, I remember Mixin Messenger who we once promoted their services on Bitcointalk, they had that too.

[Cantsay]

In any case, Telegram Wallet is still just a hot wallet and cautious investors may avoid using it to store too many assets. Hardware wallets will always be the better choice!

Some hot wallets out there are still far better than this telegram wallet - I haven’t used it before or took the time to explore my telegram to know how it works but I’m very sure that no one knows how the private keys are being generated (since it’s a close source wallet) and we all know that if the devs have a backdoor to getting private keys that are being generated then users funds, whether small or big will be at a huge risk.

[bayu7adi]

Some hot wallets out there are still far better than this telegram wallet - I haven’t used it before or took the time to explore my telegram to know how it works but I’m very sure that no one knows how the private keys are being generated (since it’s a close source wallet) and we all know that if the devs have a backdoor to getting private keys that are being generated then users funds, whether small or big will be at a huge risk.

Yes, behind the ease of access, this is actually a big risk... Telegram is now popular, and bots can be created for free by fraudsters... naming the bot a wallet makes many new users prefer this model of wallet... and yes we will know that when the money belonging to these beginners is stolen by bot makers, many are starting to realize that the security of Telegram bots as wallets is very poor...

It's better to spend a little time downloading some trusted wallets, rather than having to give up our security to people we don't even know. I never recommend a Telegram-based wallet again, because I was once one of the victims of using this Telegram-based wallet.

[ABCbits]

IMO it's not very safe to combine messaging and wallet on same application.

The idea of having messaging and wallet on the same app It's so that people can easily send money to their close contacts without having to go through an exchange or an external wallet. It remains not completely safe to choose a messaging app as a place to store your investment.

The idea definitely makes sense, other application such as Apple iMessage (which connected with Apple Cash) also does that. But they have $20K limit and FDIC insurance, while telegram have neither which makes it more risky.

Telegram will not be the first to have that, I remember Mixin Messenger who we once promoted their services on Bitcointalk, they had that too.

I'm aware of that application. Although company behind it focus on cryptocurrency field, where they decide to add wallet feature from the beginning.

[Sim_card]

Yeah I mean I also talked about the default wallet feature in the telegram menu. When you try to start the wallet there for the first time, you will see a warning like this.


If someone claims that it is a telegram fault, they'll definitely not be held responsible. The user has agreed to the Terms of Use

Thank you for your info. I didn't pay attention to this announcement when I started using Telegram Wallet, and I thought it was a product created by Telegram itself to support the Ton blockchain. This is surprising because this application can be allowed to access hundreds of millions of Telegram users. Can we suspect that this crypto wallet was created by the Telegram team itself but they hid the information to avoid future troubles?

In any case, Telegram Wallet is still just a hot wallet and cautious investors may avoid using it to store too many assets. Hardware wallets will always be the better choice!

I see Telegram wallet as a wallet that should be avoided by investors because the wallet is not from Telegram themselves but a third-party and it is like an exchange account to me because no self custody wallet will give discount or bonus for sending funds through their wallet. The way you threat exchanges should be the same way that you treat this Telegram wallet. Get a noncustodial wallet that is open source and keep your bitcoin safe.

[Dr.Bitcoin_Strange]

I see Telegram wallet as a wallet that should be avoided by investors because the wallet is not from Telegram themselves but a third-party and it is like an exchange account to me because no self custody wallet will give discount or bonus for sending funds through their wallet. The way you threat exchanges should be the same way that you treat this Telegram wallet. Get a noncustodial wallet that is open source and keep your bitcoin safe.

You're absolutely right.
It's really important for investors to prioritize self custodial wallets as well as open source solutions over third party wallets when it comes to crypto currency security. It is not longer news or something new to an investor to know that the risks associated with relying on their party wallets are really high and can expose your funds to hacking, phishing attacks and other malicious attacks.
And you're absolutely right about the bonuses and discount aspect, true custodial wallets do not offer any form of bonuses or discount to users, not for any reason, and that actually raises a sort of red flag.
Well, those who wish to still make use of the wallet should approach it with extreme caution and avoid leaving huge some of money there, just incase something goes wrong at any time.

[armanda90]

I see Telegram wallet as a wallet that should be avoided by investors because the wallet is not from Telegram themselves but a third-party and it is like an exchange account to me because no self custody wallet will give discount or bonus for sending funds through their wallet. The way you threat exchanges should be the same way that you treat this Telegram wallet. Get a noncustodial wallet that is open source and keep your bitcoin safe.

Its the same function based on your explain about Telegram wallet is the third party not recommended for long term holding assets how to secure our assets keep safety, but easily telegram account banned and not way back to recovery I think big risk when holding or store cryptocurrency assets in telegram wallet. First time I used telegram wallet when TON launch their coins but not hold in telegram wallet.
Not matter make trading with telegram wallet in Ton network but you must withdraw to your own wallet if long term holding or use exchange wallet if want convert to be fiat assets.

[jeraldskie11]

I see Telegram wallet as a wallet that should be avoided by investors because the wallet is not from Telegram themselves but a third-party and it is like an exchange account to me because no self custody wallet will give discount or bonus for sending funds through their wallet. The way you threat exchanges should be the same way that you treat this Telegram wallet. Get a noncustodial wallet that is open source and keep your bitcoin safe.

Its the same function based on your explain about Telegram wallet is the third party not recommended for long term holding assets how to secure our assets keep safety, but easily telegram account banned and not way back to recovery I think big risk when holding or store cryptocurrency assets in telegram wallet. First time I used telegram wallet when TON launch their coins but not hold in telegram wallet.
Not matter make trading with telegram wallet in Ton network but you must withdraw to your own wallet if long term holding or use exchange wallet if want convert to be fiat assets.

Telegram is very trusted app and I see no issues so far. I noticed about the Telegram wallet but I didn't know that it's not from them. However, I still didn't used that wallet because I don't have much information about it and lack of exploration by myself. And now, I just learned from this post that it's not created by Telegram so I think it's better to use other wallet such as Tonkeeper or the wallet that you've already made a research on it.

[JunaidAzizi]

Well, in my previous post, I mentioned that instead of using the Telegram wallet, it would be better to use an offline wallet or hardware wallet. However, I have just come to know that Telegram is a very trusted system; they won't compromise on users' security and privacy. That's why, in most states, Telegram is not working, as they refuse to give access to the state. I haven't personally used their wallets, so I can't recommend it to others for the safety of your capital. One thing is clear: the Telegram application is functioning well, and until now, I have not faced any issues. So, maybe their wallet will be trusted and secure. I am not sure about it, so if you are willing to use it, then DYOR.

[bayu7adi]

Well, in my previous post, I mentioned that instead of using the Telegram wallet, it would be better to use an offline wallet or hardware wallet. However, I have just come to know that Telegram is a very trusted system; they won't compromise on users' security and privacy. That's why, in most states, Telegram is not working, as they refuse to give access to the state. I haven't personally used their wallets, so I can't recommend it to others for the safety of your capital. One thing is clear: the Telegram application is functioning well, and until now, I have not faced any issues. So, maybe their wallet will be trusted and secure. I am not sure about it, so if you are willing to use it, then DYOR.

for most cases, the wallet model used is using a telegram bot, which is not a wallet officially released by the Telegram company... bots can be accessed by anyone and can create a mechanism like a cryptocurrency storage wallet...

in the end it will be a very closed wallet and actually become dangerous. not recommended for storing valuable assets or large amounts of assets.. it is better to prevent bad things from happening.

[sampoerna]

Storing big amount of crypto in Telegram wallet is not always the right thing to do and I can feel that the more people are doing it the more hackers are feeling more energized and incentivized to be successful. We should always be reminded with this crypto law: not your keys, not your coins. We must not allow to lose control of our digital assets most especially with the use of wallets which can really be so basic. We should only store small amounts of coins with Telegram wallets most especially if we are using them while doing business with Telegram-based programs. All crypto users most especially newbies must be reminded with this fact.

Indeed, high risk and dangerous for our assets.
Moreover, with the ease of making transfers on the platform, this can open up opportunities for scammers and hackers to steal our assets. Although there is security access, but once it has been detected and it is part of an online wallet, with all the convenience of the telegram wallet, and perhaps the carelessness of its users, the possibility of danger will be even higher.

Indeed, telegram may have or offer some advanced features to store assets and act as a wallet, but its security level is still questionable. And indeed it is also a custodial crypto wallet, so the team has access keys.

[Dr.Bitcoin_Strange]

Well, in my previous post, I mentioned that instead of using the Telegram wallet, it would be better to use an offline wallet or hardware wallet. However, I have just come to know that Telegram is a very trusted system; they won't compromise on users' security and privacy. That's why, in most states, Telegram is not working, as they refuse to give access to the state. I haven't personally used their wallets, so I can't recommend it to others for the safety of your capital. One thing is clear: the Telegram application is functioning well, and until now, I have not faced any issues. So, maybe their wallet will be trusted and secure. I am not sure about it, so if you are willing to use it, then DYOR.

for most cases, the wallet model used is using a telegram bot, which is not a wallet officially released by the Telegram company... bots can be accessed by anyone and can create a mechanism like a cryptocurrency storage wallet...

in the end it will be a very closed wallet and actually become dangerous. not recommended for storing valuable assets or large amounts of assets.. it is better to prevent bad things from happening.

It is unadvisable and outright dangerous to hold cryptocurrency assets in unofficial Telegram bots. These bots are usually not secure, and user’s assets within the bots can easily be hacked and stolen. Besides, they act independently and are not regulated, which means that there is usually no redress in the case of disagreement or loss of funds. These bots’ security and ability are tied to their creators – these can often be detrimental to users’ best interest or fail to optimize the bots’ functioning. Moreover, these so-called third party wallets may have few functions with which users are susceptible to falling prey to a phishing attack where they input their entire credentials. For safekeeping of the virtual currencies, one should strictly advised to use the official, secure, and reliable wallets, which are transparent and protects the consumers.